Bitcoin Flat to $19K Ahead of Fed Emergency Meeting: Market Watch

Bitcoin continues to trade around $19,000 with little to no movement, but that could all change later today as the US Federal Reserve is set to host an emergency meeting.

However, the altcoins are mostly in the red, with XRP losing the most value in a day.

Bitcoin to Face Enhanced Volatility?

The last week or so was pretty smooth for BTC, which surged to $20,400 on Tuesday to mark a 12-day high before falling sharply to $18,600. However, it bounced back at that point and settled around $19,000 for the next few days, except for a short pump against $20,000.

The weekend was particularly quiet as bitcoin was close to $19,000. Monday starts in a similar fashion, with BTC trading a few hundred dollars above that line.

However, the landscape could change later today, as the US Financial Stability Board will have a meeting chaired by Treasury Secretary Janet Yellen.

“The preliminary agenda for the executive session includes an update from the staff of the Federal Reserve and the Commodity Futures Trading Commission on financial stability and energy market developments.” – said the department.

In the past, such meetings from US financial authorities brought increased volatility to the crypto market, and given the fact that today is an “emergency”, there may be even more fluctuations.

XRP drops the most

Ripple was among the top performers in recent weeks, driven mainly by positive developments in its lawsuit against the US SEC. Today, however, the situation is different and XRP has fallen by more than 7.5% to $0.44.

Ethereum, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, MATIC, Tron and Avalanche are also in the red now, albeit by less damaging percentages. Binance Coin is the only top 10 cryptocurrency that is slightly in the green.

More losses are evident from OKB, XLM, QNT, Chainlink, ATOM and others. The crypto market cap is down about $15 billion in a day, but is still north of $900 billion.